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The Illusionary Recovery Is Now Giving Way To The Economic Collapse

ADP employment number miss expectations. RBS, Target laying off people. Deflation not showing up in food, alcohol or electricity. New type of loans, landlord loans, real estate market crashing and the bankers are getting desperate. FCC wants to be the referee of the internet. China tells Obama to mind his own business about fighting terrorism. Russia creating program to stop color revolutions which end up in regime change. US expands sanctions on Russia for another year. US troops heading to Ukraine. NATO ships in Black Sea. US making the case to invade Libya.

Investment Watch



47 Comments on "The Illusionary Recovery Is Now Giving Way To The Economic Collapse"

  1. GregT on Thu, 5th Mar 2015 11:28 am 

    Desperate times call for desperate measures. When desperate empires collapse, they always resort to war.

  2. Plantagenet on Thu, 5th Mar 2015 11:42 am 

    Obama insists the US economy is doing great. Its hard to know who to believe on this one—-is obama telling the truth (for once) or are the folks at “investment watch” actually being more truthful when they disparage obama’s claims that US the economy is doing great.

  3. Northwest Resident on Thu, 5th Mar 2015 11:57 am 

    “It’s hard to know who to believe on this one.”

    Hard for some, maybe.

    It is Obama’s job to publicly promote confidence in the economy, to tout (fake) economic numbers and to play his role in perpetuating the “Illusionary Recovery”.

    All the real numbers and all the logic and many public figures with stature and credibility point to Economic Collapse, and coming this way soon.

  4. Northwest Resident on Thu, 5th Mar 2015 12:31 pm 

    We now interrupt regular programming to bring you this special live broadcast by President Obama from the Oval Office.

    (Switch to Obama sitting behind his desk in the Oval Office, holding a stack of papers, looking into the teleprompter)

    My fellow Americans. I apologize for interrupting your regular programming of Honey Boo-Boo and Duck Dynasty reruns. But it falls on me now to inform you of serious developments that affect each and every one of you, your family members and friends, and all people around the world.

    As you know, the stock market has reached new heights, breaking records over and over again in these last few years, ever climbing upward. The appearance and the illusion is that the world economy is doing great, that our financial and economic foundation is solid and secure as we continue on about our daily lives.

    But my fellow Americans. This is an illusion that has been created by the creation of many hundreds of trillions of dollars in debt and a wealth transfer from the poor and middle classes to the top one percent, or actually, to the top one percent of the top one percent.

    How many of you have wondered how it is that your friends and family members have been unable to find employment, that pay raises seem to now be a thing of the past. How many of you have lost your jobs and been forced to go on food stamps? How many of you have had your homes go into foreclosure? How many of you have taken the time to wonder why, when the stock market is soaring and all the financial and corporate news paints a picture of a great economic recovery underway, that everything seems to be falling apart.

    You have heard me talk about American energy independence. You have heard me talk about the improving economy, about the economic recovery.

    I confess to you, my fellow Americans, that it is all a lie. The lie is for your benefit however, meant to keep you unaware of approaching dangers that we cannot avoid. Or, more correctly, the lie is to protect those who have all the money and power and who desperately need to keep the common people and masses all around the world engaged in their daily activities, working and paying taxes, going on with their lives as normally as possible. This is needed because if you were to know of the actual dangers that we soon must all face together, then you would panic, you would quit working and quit paying taxes, you would withdraw your money from the stock market where it is most desperately needed to keep things going as they currently are. In short, IF you knew the truth, and if everybody knew the truth of what dangers lurk ahead, there would be mass chaos, riot and mayhem of epic intensity.

    In short, my fellow Americans, you CAN’T HANDLE THE TRUTH. Which is WHY you have been lied to regularly, why you have been kept in the dark and fed a steady diet of propaganda and half-truths and outright lies.

    I will be discussing what the REAL issues are and what the real dangers facing us are in my next broadcast. For those of you who survive the mass riots and chaos of the next few days as the world reacts to this news, we will be discussing how your life as you know it is OVER, and we’ll be discussing how your NEW LIFE will consist of no oil, no gas, no food and NO HOPE.

    Thank you, my fellow Americans, for listening to the truth. To those who survive the next few days, I recommend you gather shovels, hoes, rakes and other gardening equipment — you’re going to need it. For everybody else, just this: God Bless.

  5. Mike989 on Thu, 5th Mar 2015 12:58 pm 

    Delusional nuts.

    When you get 200,000 new jobs every month, it’s a Real Recovery.

  6. Mike989 on Thu, 5th Mar 2015 12:59 pm 

    Not to say the rich aren’t ripping us off more than ever.

    Our Healthcare plans look more and more like a JOKE.

    America is overrun by a criminal upperclass .1%, that should all be in JAIL.

  7. Plantagenet on Thu, 5th Mar 2015 1:03 pm 

    Thanks Nordent

    I’ll put you down in the “obama is lying about the economy” column.

  8. Northwest Resident on Thu, 5th Mar 2015 1:03 pm 

    “200,000 new jobs every month makes a Real Recovery?”

    You don’t read and digest much financial news, do you?

  9. Outcast_Searcher on Thu, 5th Mar 2015 2:24 pm 

    Speaking of illusionary (why not use the far more common “illusory”?), whatever we do, lets focus on whatever negative details we can find to bolster the (almost always wrong) short term doomer case, and ignore the mainstream positive economic data (since because we don’t like it, it must be lies).

    Solid economic growth for several years — not rapid but solid. Significant job growth. Not ideal, but again, solid.

    But let’s just ignore all that so we can preach doom. As though Target is more representative of the economy than, say, Walmart (who is raising wages to retain workers) and Amazon (which continues to grow like crazy).

    America can handle the truth. However, educated Americans get tired of hearing the distorted delusions of the doomers, constantly insisting they’re right, and that doom is around the next bend — every month.

  10. J-Gav on Thu, 5th Mar 2015 2:29 pm 

    No Mike – When those 200,000 new jobs don’t allow those workers to pay their rent, it’s not a recovery at all – it’s a sham, a shame and it’s criminal.

  11. Plantagenet on Thu, 5th Mar 2015 2:55 pm 

    So far thats 3 who believe there’s a real recovery in the economy and 2 who believe that its illusionary (or illusory).

  12. ghung on Thu, 5th Mar 2015 2:56 pm 

    Outcast_Searcher: “Solid economic growth for several years — not rapid but solid. Significant job growth. Not ideal, but again, solid. But let’s just ignore all that so we can preach doom….”

    Yeah, let’s also ignore the trillions in QE, ZIRP (NIRP), bailouts, etc. that produced this lame-ass recovery. Some return on investment, eh? Also ignoring the billions sunk into the tight oil boom, the housing ‘recovery (mostly in tight oil boom areas); all financed with free money and unlikely to provide any collective return on investment, long-term, except for those who created this pyramid scheme. Quite the opposite.

    You can label those who point out the reality of this so-called recovery “doomers” if you want. Doesn’t change a thing. It’s still an illusion.

  13. yellowcanoe on Thu, 5th Mar 2015 3:06 pm 

    A report from one of Canada’s big banks, CIBC, suggests that the quality of jobs in Canada has been on the decline for the last 25 years. So essentially, when we lose full time, well paid jobs with good benefits in an economic downturn they are never completely replaced before we hit another downturn. The employment rate may recover but each time through the cycle we are left with a higher proportion of lower quality jobs. There is no reason to believe that the situation in the USA is any different.

  14. apneaman on Thu, 5th Mar 2015 3:16 pm 

    It so solid that the G20 agreed on bail in
    measures last November. That’s what you do when your on solid ground? Combine that with the G20 countries debt levels. Hell every countries debt level. Tell yourself.

    http://ellenbrown.com/2014/12/01/new-rules-cyprus-style-bail-ins-to-hit-deposits-and-pensions/

  15. Plantagenet on Thu, 5th Mar 2015 3:31 pm 

    Illusory recovery has surged into the lead, with 5 dormers saying illusory and 3 optimists saying obama is telling the truth and things are better in the economy.

    I’m still undecided. I’m innately optimistic, and I agree things are a little bit better, but I don’t see any real meaningful recovery in employment and wages—.

  16. Don on Thu, 5th Mar 2015 3:42 pm 

    Since the lfpr of the US has had a pretty bumpy descent of ~3%, and considering how many of those counted have gone from full time to part time employment or are underemployed, since the current POTUS took office mark me down in the “obama is lying about the economy” column as well.

    http://data.bls.gov/timeseries/LNS11300000

  17. Northwest Resident on Thu, 5th Mar 2015 4:11 pm 

    “Solid economic growth for several years…”

    Not on this planet. Granted, we have had the ILLUSION of economic growth, all made possibly only by the creation of trillion$ in unpayable debt. There is no way that the economy is “growing”. It is all just an illusion. I’ve been saying that for a long time, so have many others. Here is another:

    US economic growth is all an illusion

    Here’s what a Wall Street hedge fund mogul, Paul Singer, head of Elliott Management Corp., told his clients the other day:

    “Nobody can predict how long governments can get away with fake growth, fake money, fake jobs, fake financial stability, fake inflation numbers and fake income growth,” Singer wrote. “When confidence is lost, that loss can be severe, sudden and simultaneous across a number of markets and sectors.”

    http://nypost.com/2014/11/06/us-economic-growth-is-all-an-illusion/

  18. Davy on Thu, 5th Mar 2015 5:30 pm 

    Outcast, G-man got’s ya on the financial repression Ponzi scheme. Your OK economy is only maybe OK for 1/3 of the economic participants and it is only the highest brackets that are seeing real growth. IMA growth that is wealth transfer in a stagnant economy. The rest are dealing with what NR mentioned as a fake across the board description of an OK economy.

    I am a doomer and prepper so I accept your criticism. I also will mention how much I appreciate those with hopium here to keep my extremism in check. None of you cornucopians are giving me much hope unfortunately. Please try harder Outcast. I appreciate ones like you more than those like Marm that try to fluff me with Freddy charts and acknowledge no problems.

    I want to be a mild doomer but it is increasingly difficult to be mild. I want to believe in 5-10 years of normaility before the shit storm hits. It is coming down to luck in my mind because I am seeing the top doing everything in their power to screw our global BAU up. We see economic and political nationalism at a time when globalism precludes such actions. Globalism has no future but there is no future if globalism is exited wrong. All nations want their cake and eat it. It seems it is not only nations it is individuals that want cake and eat it. Then there is those who don’t even know what cake is.

    It gets back to overshoot of consumption and population which is deadly twin predicament of carrying capacity breach. It is not only destroying our environment it is destroying our economy and social fabric.

    What can be done? I would like to see a voluntary crisis initiated by rationing of liquid fuels. This would slow economic activity down proportionately. It would greatly reduce destructive attitudes and lifestyles. It would force relocalization, seasonality, embraced variability of energy use, and forced cooperation.

    This type of crisis would also force the beginning of the die off that must happen. It would force health care changes and influence the support of the most vulnerable. We will have to choose between amusements or vulnerable people dying in mass not ones and twos.

    This of course is not going to happen voluntarily but it is going to happen when POD & ETP of our foundational commodity oil happens in just a few years. It may happen sooner with trade wars, food wars, energy wars, water wars, and hot wars. How can one not be doomish with overshoot of the economy in overconsumption and overshoot of the social fabric with overpopulation? Please give me some good news corns!

  19. MSN Fanboy on Thu, 5th Mar 2015 5:46 pm 

    For those of you who think the Economy is improving, I ask you this…

    Why is it every time governments change their calculations of GDP and employment figures do the results always end up more positive?

    Almost as if they ‘doctor’ the results to receive the outcome they desire.

    You only have to look at how this data is collected to spot massive flaws in their ahem… empirical method. Sarc/off.

    Yet if you look at the calculations in their original format you cant spot these flaws, funny that lol

    Do the math, use the scientific method, it is clear, while there may be those who have positive economic conditions this is fewer and farther in-between.

    Every new Generation is heading into economic reverse, (note NOT TECHNOLOGICAL REVERSE) if you compare the historical date to post world war 2 up too the millennium.

    Now its all debt band aids.

  20. dave thompson on Thu, 5th Mar 2015 5:49 pm 

    Good news, there is still gas at the pumps, water in the taps and food in the stores………..for now.

  21. Plantagenet on Thu, 5th Mar 2015 5:51 pm 

    And the final tally is 8 to 3—claims that the economy is improving are now hereby determined by majority vote to be a sham and a lie.

  22. Makati1 on Thu, 5th Mar 2015 6:13 pm 

    If you have a job making $50K/year, get laid off, find a job paying $40K/year, get laid off, find a job paying $30K/year, get laid off, find a job paying $20K/year, get laid off, find two part-time jobs paying a total of $15K/year, you are employed as far as the government is concerned. Are you better off than you were with the $50K/year job? Only if you believe the government propaganda.

    The UFSA never left the recession, and has slipped into a depression covered by wars, fiat paper and lies.

  23. Plantagenet on Thu, 5th Mar 2015 6:22 pm 

    9-3

  24. GregT on Thu, 5th Mar 2015 6:34 pm 

    There hasn’t been a single day since 2008 that I haven’t heard somewhere that the economy is recovering. Every single day for over 6 years.

    The Bank of Canada lowered it’s key interest rate on Jan 21 of this year due to ‘slow economic recovery’. The economy is not improving.

  25. Apneaman on Thu, 5th Mar 2015 7:01 pm 

    An Oil Firm That Raised Money Seven Months Ago Just Missed Its First Bond Payment

    http://www.bloomberg.com/news/articles/2015-03-05/oil-driller-missing-first-bond-payment-marks-junk-s-fast-decline

  26. Perk Earl on Thu, 5th Mar 2015 7:16 pm 

    This is an interesting article, in which the very conundrum we banter about on this site, namely consumer affordability declining in lockstep with oil depletion VS. increasing costs of production for the same darn reason; depletion is starting to be recognized. What we see here is the assertion oil price must go north of $100 a barrel again to support new oil sources, but what they don’t account for is the downward effect that has on the economy and wages.

    http://www.telegraph.co.uk/finance/newsbysector/energy/11351126/Age-of-100-oil-will-return-as-energy-industry-cuts-too-deep.html

    ‘Age of $100 oil will return as energy industry cuts too deep’

    “Mr Voser told an audience of senior oil and gas industry executives gathered in London: “Our first priority must be to invest heavily in new supplies, and to maintain it through economic and political turbulence. Failing to do so would be a sure path to another crunch and major price volatility.”

    “On the day Mr Voser spoke in London a barrel of Brent crude was trading at $107 per barrel, the same barrel is now worth under $50.”

    “In the current rush to predict a floor to the oil prices it is easy to forget that over the next 25 years rising populations and economic growth will require significantly more energy. Demand for energy will double over the next 50 years but the IEA still forecasts that crude oil output from wells producing in 2011 will have dropped by almost two-thirds by 2035. Opec itself expects oil prices to be somewhere in the region of $177 per barrel by 2040 as the world will require 111m bpd of crude, up from just over 91m bpd at present.”

    Did you read that? $177 a barrel in 2040?! Are they kidding? Where’s the disconnect, in which they cannot put 2 & 2 together to realize this is end game? $147 a barrel in 08 pulled the rug out from under the economy. Short has a graph showing oil price must continue to decline due to depletion, so going back up over $100 a barrel again may not even be possible.

  27. Davy on Thu, 5th Mar 2015 7:29 pm 

    Perk $177 is pure excel spreadsheet goal seeking. It is shaping the energy curve to fit population growth and economic growth. Population growth and economic growth are themselves goal seeking activities. So basically our pseudoscience of economics is primarily engaged in fantasy goal seeking.

    The reality of $177 is supply will not be enough per their formula. A formula that is economic and population fantasy hence energy fantasy.

  28. Apneaman on Thu, 5th Mar 2015 7:46 pm 

    Suicide rates rising for older US adults

    Rates for 40-64 year-olds may be increasing due to financial circumstances, according to American Journal of Preventive Medicine

    http://www.eurekalert.org/pub_releases/2015-02/ehs-srr022315.php

  29. Apneaman on Thu, 5th Mar 2015 7:49 pm 

    The Price of Oil Is About to Blow a Hole in Corporate Accounting

    http://www.bloomberg.com/news/articles/2015-03-04/oil-at-95-a-barrel-discovered-in-sec-rules-on-reserves

    Holding Accountants Accountable

    http://www.dailyimpact.net/2015/03/05/holding-accountants-accountable/

  30. Go Speed Racer. on Thu, 5th Mar 2015 11:22 pm 

    Created 200,000 new jobs, mowing 200,000 lawns for twelve an hour.

  31. Go Speed Racer. on Thu, 5th Mar 2015 11:25 pm 

    America has lots of stupid fat people. They are good for invading other countries. Sneak up on the enemy, sit on them and crush them to death.

  32. GregT on Thu, 5th Mar 2015 11:43 pm 

    America has as many stupid fat people, stupid skinny people, and stupid short people as any other nation in the world.

    The really stupid ones believe that we should incinerate all of our garbage.

  33. Perk Earl on Thu, 5th Mar 2015 11:49 pm 

    “So basically our pseudoscience of economics is primarily engaged in fantasy goal seeking.”

    Ya to that, Davy. Rather a sad commentary as collapse approaches, when projections become so obvious (to us anyway) goals are becoming fantasy and Govt. stats are conjuring up false definitions of inflation, unemployment and GDP to placate the masses. Guess we’ll all head into the abyss being told things are better than ever. That goes to that line often used, “Don’t look behind the curtain.”

  34. Northwest Resident on Fri, 6th Mar 2015 1:34 am 

    200,000 jobs — From what I read coming from multiple sources, that 200K jobs is mostly in the service industry — waiters, waitresses, burger flippers, temp help of all kinds — mostly part time and low wage without benefits.

    Don’t be fooled into thinking that 200K jobs as touted by the federal government is a great thing — it is nothing like what we used to think 200K jobs was.

    Just like a barrel of oil isn’t what it used to be, yet they keep hammering on barrel count as if it means something significant, which it doesn’t, not in terms of energy available to power the economy.

    Barrel count, oil glut, 200K jobs, soaring stock market — all part of the illusion.

    If you don’t understand that the economic data being shoveled out to the public by government and corporate entities is manipulated and faked, and if you don’t realize that the stock market is an unsustainable fantasy fueled by easy and cheap debt creation, and if you don’t realize that your attitudes and perceptions are being manipulated and bombarded daily with purposeful propaganda meant to deceive you into thinking “all is well”, then you just don’t know shit.

  35. Perk Earl on Fri, 6th Mar 2015 2:47 am 

    This one is a must read, guys. This may be our first sign of a future of huge oil production decline. If prices remain where they are look for some major downsizing. Can’t you just see prices going up once supply drops sufficiently, but then the economy won’t be able to handle it and drop into a much lower gear, which will translate once again to a low oil price. Once that happens the situation will become palpable because even a cocker spaniel will know the party is over because the dog bowl will be empty.

    http://www.pennenergy.com/articles/pennenergy/2015/03/russian-oil-production-giant-oil-output-to-drop-8-percent.html

    Russian oil production giant: Oil output to drop 8 percent

    “Lukoil said oil output in Russia could drop 8 percent by the end of 2016, Reuters reported.

    However, Fedun said oil output could decrease by 800,000 barrels per day by the close of 2016, Reuters reported.
    “Everyone will reduce production because everyone is reducing drilling,” Fedun said, according to Reuters.

    In addition to the decline in oil production, refineries in Russia will also expect to see decreases in output. Total refining runs may be cut almost 800,000 bpd to 5 million bpd.”

  36. Perk Earl on Fri, 6th Mar 2015 4:13 am 

    Hey, Davy, GregT, NR, JGav and all the rest, this one is a must read. This may be our first sign of a future of huge oil production decline. If prices remain where they are look for some major downsizing. Can’t you just see prices going up once supply drops sufficiently, but then the economy won’t be able to handle it and drop into a much lower gear, which will translate once again to a low oil price. Once that happens the situation will become palpable because even a cocker spaniel will know the party is over because the dog bowl will be empty.

    http://www.pennenergy.com/articles/pennenergy/2015/03/russian-oil-production-giant-oil-output-to-drop-8-percent.html

    Russian oil production giant: Oil output to drop 8 percent

    “Lukoil said oil output in Russia could drop 8 percent by the end of 2016, Reuters reported.

    However, Fedun said oil output could decrease by 800,000 barrels per day by the close of 2016, Reuters reported.
    “Everyone will reduce production because everyone is reducing drilling,” Fedun said, according to Reuters.

    In addition to the decline in oil production, refineries in Russia will also expect to see decreases in output. Total refining runs may be cut almost 800,000 bpd to 5 million bpd.”

  37. theedrich on Fri, 6th Mar 2015 4:56 am 

    Given that the vast majority of non-food items purchased nowadays comes from World # 3, it is clear that most American wage-earners are destined to sink to the levels of those of comparable workers in that world.  The importation of serfs from the south joins in driving our wages in the same direction.  Likewise the takeover of the entire hotel/motel industry by Indians, Pakistanis and various Orientals helps to sink the ship.  Never mind the “asylum-seekers.”  In short, the days of fat checks and easy lifestyles are gone forever for most traditional Americans, White or Black.  For a short historical period in the second half of the twentieth century, the U.S. workforce enjoyed Utopian conditions, compared with the historical norm.  Now, despite the political blather from Ø & Co., those conditions are gone with the wind.

  38. Go Speed Racer on Fri, 6th Mar 2015 5:38 am 

    We should not incinerate trash. However, there is an ethical way to dispose of trash. Put it on GregT’s doorstep. Hey GregT, i followed your advice and quit my job. now i can listen to your wisdom all day long, on this chat board.

  39. Davy on Fri, 6th Mar 2015 5:51 am 

    Thee, I would argue the US has promoted globalism and now we have been globalized with all its negatives. We wanted our cake and eat it. We wanted to promote American exceptionalism which in reality is based on overconsumption. We wanted to promote American values borrowed from Europe we can’t live up to.

    The second half of the 20th century is a blip that was only possible from the combination of multiple one time advantageous factors. This went to our heads and destroyed our country in an urban sprawl car culture engaged in the promotion of overconsumption in the pursuit of progress through technology, ever increasing energy intensity, and complexity.

    In the process we have destroyed our ecosystem and our social fabric. We have become fat with some lazy and some slaves to debt. These debt slaves are working their life away for false gods and comforts that never satisfy. America is not completely gone. There is still time to make a transition for many. The top is gone but not the bottom. I will fight whoever here is promoting that. Good is still in America. The wealthy will lose their wealth. The urbanites the modern and complex. The rural folks will return to a hard scrabble life. This is my message of less with less.

    We all globally including the US must address the fundamental facts of overshoot and the beginning of population reductions from global carrying capacity breaches. This is like terminal illness and society globally is in denial. This is non-negotiable and a natural process. The sooner we acknowledge this, adjust to it, and try to mitigate it the better. Everything about our myth and values should revolve around this central fact of death and descent.

    There is nothing more profound then our mortality and those special to us. This is my underlying message let’s begin setting up our hospices to this new reality. Everything else will fall into place. Is this likely to happen? NO. Yet, it does not matter if it does or not at a policy level because carrying capacity normalization will happen. This reality of death and its denial may not gain traction but it is the right course of action. If you have a terminal illness your life changes fundamentally. You either remain in denial or you go through the stages of death. We are currently in denial in a macro and micro individual sense.

  40. BobInget on Fri, 6th Mar 2015 11:17 am 

    NYT, two hours ago:

    The economy gained fresh momentum last month as the Labor Department reported on Friday that employers added 295,000 workers in February, far exceeding expectations, and the unemployment rate took another dip. But wage gains continued to lag, rising only 2 percent from a year earlier.

    The unemployment rate fell to 5.5 percent, its lowest since mid-2008, down from 5.7 percent in January. Last month, wages rose just 0.1 percent, according to the Labor Department, a disappointment coming off an increase of 0.5 percent in January.

  41. BobInget on Fri, 6th Mar 2015 11:40 am 

    Markets are down (today) because traders are worried the Fed will raise interest rates (in June) from where they are now; ZERO

    Markets believe oil prices will remain low
    there-by fucking over banks who are financing shale, deep-sea and conventional.
    (banksters are hedged, not to worry)

    No one bothers to read EIA reports any longer. Oil prices are dictated entirely by Saudi Arabia and Exxon/Chevron.

    Problems arise when ME, SA, deliveries can’t
    keep up with an artificially stimulated, low wage job’s economy.

    At some point, war rides up on his black horse. “Nuke them Rag-heads”
    Of course, we won’t nuke the RH’s cause we
    burn 20 million barrels of oil every friggin day.

    This situation is like the spate of oil train disasters America is enduring. No one wants to admit how dependent we are on oil.
    (President Bush let it slip in a few careless comments)
    Pipelines are safer but who knows how long
    the bounty will last?

    And the band played on.

  42. Tom S on Fri, 6th Mar 2015 12:34 pm 

    BobInget,

    It’s all lies, propagated by Obama who wants to trick us into thinking the world hasn’t ended. The lies won’t work though. The people here are a small elite who can see through it.

    It’s all an illusion. In fact, industrial civilization collapsed already, and the human population died off to 1 billion, in 2005, exactly when Matt Savinar said it would. Since then, everything has been an illusion propagated by the Federal Reserve, which has managed to pull the wool over the sheeple’s eyes by printing money. That won’t last forever, though. The Federal Reserve can only suspend the laws of physics for so long. Then, the illusion will suddenly end and everyone will realize that the economy collapsed and food stopped being delivered a decade ago.

    You’d better prepare now, because it’s only a year or so (at most) until the debt bubble collapses, natural gas production falls off a cliff, Saudi Arabia takes a nosedive toward the desert, ERoEI declines to zero and so do oil prices, feedback loops destroy the economy, and we hit peak phosphorus and peak farmland, all at once in a converging catastrophe. Of course, all those things already happened in 2006, so the doomers were spot on, but the Federal Reserve covered it all up with shenanigans and fake money.

    Colin Campbell was spot on with his oil predictions. The thing is, the new barrels of oil just don’t count as oil. Campbell was talking about conventional oil, not this fake stuff conjured up which can barely drive my car at all. Never mind that Campbell included “unconventional” oil in his predictions, and many of his graphs were labelled “all hydrocarbons”. He didn’t mean this stuff we call “oil”, which has an ERoEI of zero and is actually sucking energy out of the economy, hastening our demise.

    We’ve been warned about this for decades. It’s just like William Catton wrote in his book “Overshoot”, back in 1974. The human population faces an IMMINENT die-off because of resource constraints. It’s finally about to happen, proving Catton right all along, but everyone was just too dumb to listen. If we’d started preparing back in 1974, then sure, we might have had some chance, but now it’s just too late.

    In fact, the human race practically went extinct in 2006 but everyone is just in denial. It was just too scary for them. There was too much cognitive dissonance. That’s why people don’t accept this stuff. They just drive around in denial.

    -Tom S

  43. Perk Earl on Fri, 6th Mar 2015 1:14 pm 

    Music to the ears – oil remains just under 50 for WTI & 60 for Brent. The longer they remain this low the less future supply will be available. IF once supply drops sufficiently to run price up again, it cannot muster a price above $100 a barrel, or maybe even $90, the sooner it will approach the end of the oil age.

    Crude Oil (WTI) USD/bbl. 49.39 -1.37 -2.70% Apr 15 13:32:59
    Crude Oil (Brent) USD/bbl. 59.65 -0.83 -1.37% Apr 15 13:33:19

  44. Northwest Resident on Fri, 6th Mar 2015 1:40 pm 

    Perk — Ron Patterson has commented a couple of times or more on his blog that he expects Russian oil production to peak this year based on information coming from official Russian sources. But I don’t recall him mentioning a drop that steep — of course, that steep drop mentioned in the article is for 2016, so maybe that is the difference. It doesn’t take a genius to figure out that worldwide we ALREADY hit peak oil some years ago, and that part of the big illusion is denial of that momentous fact combined with reclassification of almost any liquid that burns as “oil” — as in, how could it be peak oil when w3e’re producing all this other stuff that we call oil? Anyway, it isn’t just Russia that is looking at near term steep declines — so is just about everybody else, for all the reasons we discuss on this forum.

    Some may call it DOOM. I prefer to think of it as COLD HARSH REALITY.

  45. Richard Ralph Roehl on Fri, 6th Mar 2015 2:31 pm 

    295,000 part-time piss-water wage jobs created this month in faster poo-food Amerika, the capitalist-fascist land of perpetual war profiteering!

    Phuck! Phuck! Hooray! Let’s go out and ‘$ell-lie-be-rat’ this joyous occasion with a GMO sixpack of piss-water light beer… and maybe a triple mayonnaise wonder-bred pizza from ‘KKKristian Dominator’.

  46. Perk Earl on Fri, 6th Mar 2015 4:44 pm 

    “Ron Patterson has commented a couple of times or more on his blog that he expects Russian oil production to peak this year based on information coming from official Russian sources. But I don’t recall him mentioning a drop that steep — of course, that steep drop mentioned in the article is for 2016, so maybe that is the difference.”

    What intrigued me about this is namely it was from the horse’s mouth, Lukoil and it was such a big projected drop -800k a day. That’s huge!

    Russia has been milking their old giant fields via infield drilling. What may be happening now is a slow down or stoppage of infield drilling due to much lower oil price, but apparently it won’t have much of an effect on production until 2016. But that is yet to be confirmed.

    But if that is the trend, i.e. lower oil price translates into much lower supply say in 2016, and IF oil price cannot rise high enough to generate new supply (see Short’s graph), then production will drop significantly from there forward.

    Thanks for responding – you’re the only one and anytime there’s an article about an oil giant suggesting 800K a day drop, it’s worth taking a closer look at. By the way, I got that link from Ron’s site; poster Jeffrey Brown, aka, westexas.

  47. Perk Earl on Fri, 6th Mar 2015 4:58 pm 

    NR, after posting that my last one, I went to Ron’s site. He has a new post in which he has that same article I linked about Russia oil. Small world, eh?

    http://peakoilbarrel.com/worldwide-rig-counts/#more-6681

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